XML 37 R26.htm IDEA: XBRL DOCUMENT
v3.23.2

Segment Reporting | 6 Months Ended
--- | ---
Jun. 30, 2023
Segment Reporting [Abstract] |
Segment Reporting | SEGMENT REPORTING We operate primarily through three business segments: Companion Animal Group (“CAG”), Water quality products (“Water”), and Livestock, Poultry and Dairy (“LPD”). CAG provides products and services for veterinarians and the biomedical research community, primarily related to diagnostics and information management. Water provides innovative testing solutions for the detection and quantification of various microbiological parameters in water. LPD provides diagnostic tests, services, and related instrumentation that are used to manage the health status of livestock and poultry, to improve producer efficiency, and to ensure the quality and safety of milk. Our Other operating segment combines and presents our human medical diagnostic business (“OPTI Medical”) with our out-licensing arrangements because they do not meet the quantitative or qualitative thresholds for reportable segments. OPTI Medical develops, manufactures, and distributes human medical diagnostic products and provides human medical diagnostic services. Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision-maker (“CODM”), or decision-making group, in deciding how to allocate resources and in assessing performance. Our CODM is our Chief Executive Officer. Our reportable segments include: CAG, Water, LPD, and Other. Assets are not allocated to segments for internal reporting purposes. The following is a summary of segment performance:
(in thousands) |  | For the Three Months Ended June 30,
|  | CAG |  | Water |  | LPD |  | Other |  | Consolidated Total
2023 |  |  |  |  |  |  |  |  |  |
Revenue |  | $ | 866,652 |  |  | $ | 43,029 |  |  | $ | 29,911 |  |  | $ | 4,038 |  |  | $ | 943,630 |
Income from operations |  | $ | 275,509 |  |  | $ | 19,820 |  |  | $ | 1,951 |  |  | $ | (1,136) |  |  | $ | 296,144 |
Interest expense, net |  |  |  |  |  |  |  |  |  | (10,215) |
Income before provision for income taxes |  |  |  |  |  |  |  |  |  | 285,929 |
Provision for income taxes |  |  |  |  |  |  |  |  |  | 61,693 |
Net income attributable to IDEXX Laboratories, Inc. stockholders |  |  |  |  |  |  |  |  |  | $ | 224,236 |
2022 |  |  |  |  |  |  |  |  |  |
Revenue |  | $ | 784,087 |  |  | $ | 39,195 |  |  | $ | 29,889 |  |  | $ | 7,375 |  |  | $ | 860,546 |
Income from operations |  | $ | 156,526 |  |  | $ | 17,920 |  |  | $ | 3,230 |  |  | $ | 1,390 |  |  | $ | 179,066 |
Interest expense, net |  |  |  |  |  |  |  |  |  | (7,983) |
Income before provision for income taxes |  |  |  |  |  |  |  |  |  | 171,083 |
Provision for income taxes |  |  |  |  |  |  |  |  |  | 39,104 |
Net income attributable to IDEXX Laboratories, Inc. stockholders |  |  |  |  |  |  |  |  |  | $ | 131,979 |
(in thousands) |  | For the Six Months Ended June 30,
|  | CAG |  | Water |  | LPD |  | Other |  | Consolidated Total
2023 |  |  |  |  |  |  |  |  |  |
Revenue |  | $ | 1,693,931 |  |  | $ | 81,912 |  |  | $ | 59,119 |  |  | $ | 8,863 |  |  | $ | 1,843,825 |
Income from operations |  | $ | 537,259 |  |  | $ | 36,791 |  |  | $ | 3,259 |  |  | $ | (766) |  |  | $ | 576,543 |
Interest expense, net |  |  |  |  |  |  |  |  |  | (22,926) |
Income before provision for income taxes |  |  |  |  |  |  |  |  |  | 553,617 |
Provision for income taxes |  |  |  |  |  |  |  |  |  | 115,327 |
Net income attributable to IDEXX Laboratories, Inc. stockholders |  |  |  |  |  |  |  |  |  | $ | 438,290 |
2022 |  |  |  |  |  |  |  |  |  |
Revenue |  | $ | 1,545,271 |  |  | $ | 75,566 |  |  | $ | 60,759 |  |  | $ | 15,499 |  |  | $ | 1,697,095 |
Income from operations |  | $ | 379,651 |  |  | $ | 34,574 |  |  | $ | 9,967 |  |  | $ | 3,218 |  |  | $ | 427,410 |
Interest expense, net |  |  |  |  |  |  |  |  |  | (14,836) |
Income before provision for income taxes |  |  |  |  |  |  |  |  |  | 412,574 |
Provision for income taxes |  |  |  |  |  |  |  |  |  | 86,630 |
Net income attributable to IDEXX Laboratories, Inc. stockholders |  |  |  |  |  |  |  |  |  | $ | 325,944 |
Refer to “Note 3. Revenue Recognition” for a summary of disaggregated revenue by reportable segment and by major product and service category for the three and six months ended June 30, 2023 and 2022.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration